[ANN] BIDBits | Blockchain Digital Auction Platform | Dynamic Bidding System

[dbzenhosting]

BidBits

BidBits is a digital auction platform that aims to give users exciting and unique buying opportunities. The platform will host a number of digital markets from which users will be able to offer their own goods to market participants. BID is exclusive to token holders and will serve as an exclusive bidding token.

Marketplace


Sellers will be able to list their digital items for sale on the BID platform. A security deposit will be required for each listing. Deposits will be released when all transactions have been completed and verified.  – Additional feedback and verification dynamics to be introduced.

Users will be able to offer a plethora of digital items including digital art, game skins, keys and much more. Categories and dedicated markets will be developed over beta testing period as we refine bidding processes. 


Bidding


All Auctions will be priced in USD $ and will start from a base price of $0.01. Participants will spend BID tokens to submit votes on the Blockchain. Successful confirmation will record order of bids and will raise the final payment value by the seller defined amount. Bidding will continue until closing date.

The final minutes of the bidding process will activate the extension period in which buyers may pay a premium on their token bid to extend bidding time (a quota will be enforced to ensure bidding closure). Bidding will close when no extension of time has been given or maximum extension time reached.

Final balance to be paid in BID or BTC.


   


Token Specifications

Supply - 42 Million BID
Annual Stake: 9%
Minimum Stake Maturity: 1 Hour




Token Offering Process

TBA





Wallets


TBA

[kaneki007]

reserve indonesian translation if needed

[DaMut]

Intresting idea,
So we can use this coin to bid and pay it using bid or btc,and can you tell me where is the place ? Any kind website or something like that to start an auction later on?
Also,it is an icos or pow ? (Most likely icos because we use it as a payment later on)

Looking forward and awating for more information about your project

[Omnicide24]

Hello, reserve Russian translation for me. Thanks.

[tippytoes]

Waiting for more info on this project. And the links/website since it is a digital auction platform, where we can view the available digital items.

[Amevalentine]

BidBits is a digital auction platform that aims to give users exciting and unique buying opportunities. The platform will host a number of digital markets from which users will be able to offer their own goods to market participants. BID is exclusive to token holders and will serve as an exclusive bidding token.

Sellers will be able to list their digital items for sale on the BID platform. A security deposit will be required for each listing. Deposits will be released when all transactions have been completed and verified.  – Additional feedback and verification dynamics to be introduced.

Users will be able to offer a plethora of digital items including digital art, game skins, keys and much more. Categories and dedicated markets will be developed over beta testing period as we refine bidding processes.  

How this is works?
Because i seen this like regular market sale with BIDBits as collateral payment system.

[fxmulder]

Interesting idea, but we need more details

Agreed, this seems like an interesting dynamic if theres a level of transparency to be implemented. Perhaps a little more detail in the form of a document will be useful?

[SteemBit]

I wonder what items I can offer on this site? If I could auction off soke of my digital accounts like steam or something that would be interesting. Maybe digital subscription acccounts?

[DrPaid]

Yes I agree above. Sone more details about the platform and your distribution protocol is important. A sound economic model will lead to a projects success.

A whitepaper. Roadmap and marketing strat will go a long way if youre in the for the long run. Hope to see more deets soon.

Doc.

[vozphongtom]

I hope we have windows wallet soon  ,Dynamic Bidding System  is good project or not , i need see roadmap  what i can't see it now , hope dev can update to i see it and can invite it .

[hapydays]

Hello, reserve Russian translation for me. Thanks.

Reserve Italian translate for me. Thanks.

[dbzenhosting]

Thanks for the initial interest. We're currently ironing out our release schedule for the token and also accepting applications for people wishing to join our team of developers.

We are looking for the following :

Network Architect

Blockchain Architect

Full Stack Web developer

Community Manager

If you have the skills and would like to join this project, please let me know.

[dannac]

Thanks for the initial interest. We're currently ironing out our release schedule for the token and also accepting applications for people wishing to join our team of developers.

We are looking for the following :

Network Architect

Blockchain Architect

Full Stack Web developer

Community Manager

If you have the skills and would like to join this project, please let me know.

Very interested in the project and happy to help out with community once you guys get started. Pm me if you need a hand with setting up slack etc.

Looking forward to a novel approach to blockchain auctions!

[DannyDisco]

This might be one to look out for. A question to OP though, how exactly will this differ to traditional auctions like ebay to give items at lower prices while benefiting the seller and platform?
 I think ive misunderstood something...

[DrPaid]

Well, to those who are not sure of their bidding dynamics, it seems to me it follows some sort of penny auction style bidding with blockchain proof.

The seller and platform basically gain from tokens being spent to bid and this is distributed to a winner. Im interested to know how they will combat collusion and other attacks. An interesting model indeed.

[CoinBateman]

Is the underlying token used for making bids? Or is it the collateral ?

[btvGainer]

Hindi translation reserved

[Stan-O]

Watching this. Hit me up with a roadmap and im in!

[fxmulder]

Thinking about this a little more, auctions are quite an interesting system and I am really looking forward to something that offers proof of bidding.

The market dynamics will keep people hooked on both bidding and selling imo. It seems dev wishes to provide some gamification to the proposed platform and give value to all users. This is an encouraging proposal which I feel would benefit from some economic trials.

I would urge the dev to push forward a road map and even consider running special events that tweak certain dynamics of the bidding process to trial community interaction.

Good luck, and I look forward to hearing more! 

[Zubilica]

Yes, I agree.

I have this time and time again recently where companies offer bonus schemes or limited period incentives before developing a long term implementation for users.

I think the main thing here though is to combat collusion and provide a profitable a fair system for all to partake. It can feel a little daunting for new users but focus on building your community first is key. Run some giveaways and interesting incentives - I can see this taking off!